- The flagship US benchmark closed yesterday’s session with a 0.5 percent decline, while the Nasdaq 100 fell by more than 0.3 percent. The small cap Russell 2000 index ended the day down more than 1.2 percent. Today’s macro calendar is light. Shares of MongoDB, a company specializing in database solutions, jumped more than 21 percent in after hours trading thanks to outstanding results that completely surprised analysts. After today’s session, earnings will be released by CrowdStrike, Marvell Technologies and GitLab.
- Jerome Powell’s speech at Stanford University did not trigger any market reaction, as the Federal Reserve Chair avoided comments related to current monetary policy, the economy or its future outlook.
- Sentiment during the Asian session was mixed, with the Nikkei closing flat. In Australia, building permits fell by 6.4 percent compared to a 4.5 percent increase expected and a 12 percent rise previously. Consumer sentiment rose to 37.5 compared with forecasts of 36.2 and 35.8 previously.
- Precious metal prices are moving lower, with silver down more than 1.8 percent and gold losing over 0.5 percent. The US dollar is strengthening slightly, and EURUSD is trading near 1.16 after posting seven consecutive bullish sessions. However, yesterday’s pullback from 1.165, which was an attempt to break above a key resistance area defined by the 50 day EMA and previous price reactions, was rejected.
- Bitcoin is slowly recovering from yesterday’s declines and is trading near 87.5 thousand USD versus just under 85 thousand USD yesterday. Still, crypto market sentiment remains very weak, and Ethereum has barely managed to bounce from its losses. The price of ETH continues to hover around 2,800 USD.
- Oil prices drop slightly to $63 after yesterday rise, which supported sentiments around stocks of the US energy companies. Futures on cocoa and coffee are slightly up today, continuing the climb.
Source: xStation5
Daily summary: The beginning of December marked by a crash on the crypto market
BREAKING: EURUSD ticks higher after weaker US ISM report 🔎
BREAKING: EURUSD muted after strong PMI manufacturing data from the US 📌
Crypto News: Bitcoin drops 5%📉 Market returns to sell-off mode
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
